Weak affairs: Revenue is set to inch downwards in 2023-24 as the post-pandemic wedding boom subsides
Bridal boutique revenue is expected to creep downwards at a compound annual rate of 3.1%. Unsurprisingly, bridal store revenue is heavily influenced by the marriage rate. Unfortunately, changing social structures make marriage less of a priority - with Britons prioritising expenditure on education, travel and other experiences over-elaborate weddings. Historically marriage has also been viewed as an economic contract, a way for men to support women financially. Still, times have changed, and it's becoming easier for women not to marry if they don't want to. Regulatory changes like the Marriage (Same Sex Couples) Act have boosted legal partnerships and ceremonies, but changes in legislation haven't offset the overall downward trend in opposite-sex marriages.
Stores in this industry specialise in selling wedding dresses and clothes for members of the bridal party. They also sell jewellery and accessories and some stores provide fitting and alteration services. The industry excludes the bridal sections of department stores and online retailers that sell similar items.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Harrods Ltd.
Methodology
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